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home / news releases / MOGO - Mogo buys ethereum boosting its investment in blockchain and cryptocurrency

MOGO - Mogo buys ethereum boosting its investment in blockchain and cryptocurrency

Mogo Finance Technology Inc.
Mogo ([[MOGO]] -7.4%) purchases 146 ether (ETH-USD) at an average price of US$2,780, as part of its plans to increase the company's on balance sheet investment in the blockchain and fintech ecosystem.The digital payments firm plans to invest up to 5% of the value of its cash and investment portfolio in cryptocurrencies. In March, Bloomberg reported that China's Meitu, which operates a beauty app, bought 15,000 units of ether and 379.1 bitcoins for $17.9M on March 5, making it the first major company to invest significantly in ether.Mogo is shifting some of its assets from its equities portfolio into crypto. Last week, the company announced the sale of its investment in Vena Solutions for proceeds of C$4.7M (US$3.8M).In addition, the company has also invested in bitcoin, acquiring ~18 bitcoins to date at an average price of US$33,083.Also as part of its investment in blockchain and crypto, Mogo has acquired a

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Mogo buys ethereum, boosting its investment in blockchain and cryptocurrency
Stock Information
Company Name: Mogo Finance Technology Inc.
Stock Symbol: MOGO
Market: NASDAQ
Website: mogo.ca
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